SMEs - "The unsung Heros of the India" story
SMEs are the backbone of all developing economies including India. They are the most efficient tools for balanced regional development and the most potential employment generators. As per available statistics, Indian SMEs employ about 18 million persons working in 3.3 million enterprises. They are the second largest employer after agriculture. In recent years the sector has consistently registered higher growth rate as compared to the overall industrial sector.
The sector's contribution to GDP as of now is around 17 percent. According to an ASSOCHAM report its share in GDP is expected to grow by a minimum of five percent to grab up to 22 percent share in GDP by 2012. This will be on the back of aggressive upgradation by the enterprises to reduce their input costs, improve productivity and thus increase their exports.
Riding on the fruits of liberalization, the SME sector has been growing at a rate of 35 percent over the last two years. Now this growth pace will be accelerated to about 40 percent. This will further increase the share of SMEs in the manufacturing output from 40-42 percent over 46 percent.
Keeping up the spiralling trend, the SMEs contribution to exports is also expected to rise from 38 percent to 44 percent in the coming few years.
Currently this sector comprises of about 95 percent of industrial units in the country and contributes to about 40 percent of the value edition to the manufacturing sector.
News
SME WORLD becomes the First Indian Magazine to Penetrate into the Tier II and Tier III Cities.
SME WORLD, India’s singular voice of MSMEs, recently earned the rare distinction of being the first ever business magazine when it started making deep penetration into the tier II and tier III cities of the country.
SME WORLD Joins Institutions’ Initiatives for MSMEs Growth
SME WORLD joins hands with various institutes and organizations in their meaningful initiatives towards improving the lot of the vast MSME sector in the country.
